Dec 8, 2012 10:00am PST
rake, only on the money you make on the margin. stephen moore is here from the wall street journal and he's ready to jump out of his skin after i said that. he specializes in telling me why i'm wrong. and our other guest, david johnston wrote "the fine print." stephen, you are our resident anti-tax crusader. i totally agree every penny counts when it comes to your own money. when you compare the taxes most americans paid in past decades i don't get why republicans are screaming bloody murder about this. what would be so bad with the wealthiest among us chipping in a little bit more? i'm emphasizing just a little bit more. >> when you showed that chart of the tax rates that was exactly accurate. we had 70% tax rates in the '70s. that didn't turn out well. then we cut the rates significantly. went down to 50%, 28%. the rates went up to 35%. i would love to see you super impose on that chart the share of taxes paid by the rich. here is the interesting thing. >>> one of the reason the deficit went down is you had a big increase in the number of people making money. they paid more tax.